JSW Steel’s Q1FY25 Results
JSW Steel’s revenue declined 11% YoY
- 30 Oct 2024
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- JSW Steel reported an 8% quarter-on-quarter (QoQ) decrease in its consolidated revenues for the quarter ended Sept (Q2FY25). On a year-on-year (YoY) basis, it witnessed a decline of 11%.
- Its expenses for the quarter were down by 7% QoQ and 5% YoY.
- The net profit reduced 53% QoQ and 85% YoY.
- The earnings per share (EPS) of JSW Steel stood at 1.8 during Q2FY25.
JSW Steel’s Financial Statements for Q2FY25:
| (₹ crores) | Q2FY24 | Q1FY25 | Q2FY25 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 44,821 | 43,107 | 39,837 | -8% | -11% |
Total expenses | 40,810 | 41,715 | 38,644 | -7% | -5% |
Profit before tax | 4,585 | 1,380 | 789 | -43% | -83% |
Tax | 1,812 | 513 | 385 | -25% | -79% |
Profit after tax | 2,773 | 867 | 404 | -53% | -85% |
Earnings per share | 11.3 | 3.5 | 1.8 |
Financials:
H2 2024-2025 Results Summary
● Crude Steel Production: 6.77 million tonnes ● Saleable Steel Sales: 6.13* million tonnes ● Revenue from Operations: ₹39,684 crores ● Operating EBITDA: ₹5,437 crores ● Net Profit after Tax: ₹404 crores ● Net Debt to Equity: 1.04x ● Net Debt to EBITDA: 3.51x (*Including 0.03% Mnt Sales from trail run)
Management Commentary:
The management
- A sharp fall in realisation offset by lower costs (lower mining royalty expense and other expenses).
- The company reported a beat in standalone business, while subsidiaries and overseas operations struggle.
- The capacity utilisation at the Indian operations improved to 91% during the quarter, post completion of planned maintenance shutdowns at Dolvi and BPSL in the last quarter.
- JSW Steel's's consolidated capex spend during the second quarter of FY25 was ₹3,384 crore. Total spend for the first half of the fiscal was ₹7,850 crore.
- The company expects its consolidated capex for FY25 to be ₹16,000-17,000 crore as against an estimate of ₹20,000 crore.
- Shares of JSW Steel Ltd. are currently trading 2% lower at ₹939.55. The stock is up 7% so far in 2024.
Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results
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